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This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Covirán cierra 2011, con un crecimiento del 5%, tras poner en marcha un proceso de expansión internacional

Covirán Closes 2011, with a growth of 5%, after setting up a process of international expansion


27 March 2012

The Cooperative does balance of the past exercise in which it continued with his process of expansion, that derived in a growth of 5%. The volume of business of the group closed in 550 million euros, figure that supposed an increase of 5% with regard to the previous exercise. The profits before taxles, with 939.803 euros and a Cash Flow of 4,7 million euros, gave like result an EBITDA that rises to the 5,2 million euros.

Luis Osuna, CEO-general Director of the company, has confirmed that the sales to level of supermarkets have reached the figure of 1.000 million euros.

Of face to the present year, this fixed international cooperative his put in an increase his volume of business of 10%, reaching like this a growth accumulated of more than 50% from 2008, coinciding with the start of the current crisis. Along this exercise, will invest nine million euros for like this tackle the main projects that mark the leaf of route of this year. These last would be an integral modernisation of the company, the opening to new markets and an orientation 100% to the final customer.

Luis Osuna, CEO-general director of Covirán.
At the same time, during the past exercise, the number of partners increased until arriving to the 2.352. With a total of 2.868 supermarkets, the company positions like second in the ranking national of the distribution by number of establishments.

Besides, Covirán has turned into the first teach national that initiates a process of internationalisation. To national level, the main aim focaliza to the penetration of teachs it in Balearic before final of year, reaching like this witnesses in all the autonomous communities. Out of the country, the bet goes through to give continuity to the current Plan of Expansion and of growth.

In Portugal, teachs it has realised a powerful investment that already is giving his fruit. From the year 2010 and until finals of 2011, has attained the opening of 90 supermarkets in 14 districts (Aveiro, Beja, Knickers, Braganza, Coimbra, Faro, Leiria, Lisbon, Carry, Santarèm, Setúbal, Viana do Castelo, Vila Real and Viseu). To give service to his associated, has two platforms (of the 25 totals), situated in Aveiro, north of the country and in Algoz, in the zone south.

In 2013 the aim will be, in words of Osuna, the opening of a third platform in the zone of Lisbon (city where already is situated his own headquarters of offices from where centralises the administrative management in this country), offering coverage to all the Portuguese territory.

And is that the exercise 2011 closed with a volume of business in Portugal of 10 million euros. The forecast of face to 2012 is that this figure increase until the 20 millions, reaching to finals of the present year the 150 establishments. This would generate a figure of sales in the establishments of 40 million euros.

The cooperative model of Covirán, will continue his development so as to keep growing out of the national market. Before 2015, it teachs it it could disembark in other countries to position , to the equal that in Spain, like the best solution of the detallismo independent.